Lomiko Technologies to Launch Smart Home Devices Ltd to Manufacture, Distribute and Sell Spider Charger-based Devices
VANCOUVER, BC / ACCESSWIRE / February 16, 2016 / Lomiko Metals Inc. (TSXV: LMR) (OTCQX: LMRMF) (FSE: DH8B.F) (the "Company") announces that is has signed a Letter of Intent with engineering partner MegaHertz Power Systems, Ltd., private company, to launch a new company focused on "Internet of Things" (IOT) devices. SHD Smart Home Devices Ltd. will develop, contract manufacture, distribute and sell Spider Chargers and related devices.
"With the launch of Smart Home Devices Ltd., Lomiko has an opportunity to garner a profitable sales channel for the Spider Charger.", stated A. Paul Gill, CEO., "Major companies such as Leviton, Legrand, Pass & Seymour and others have recognized this new market and have launched similar devices."
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Spider Charger Installed
To view an enhanced version of Spider Charger Installed, please visit:
https://www.accesswire.com/uploads/19264_enhanced.jpg
There are currently 130 million established households in North America and a healthy seasonally adjusted annualized rate of 1.3 million housing starts. In addition, offices, hotels and coffee shops are also potential markets for USB charging devices. If only one or two USB charging devices are installed in new homes and retro-fitted into current homes undergoing renovations, there will be a healthy demand for these IOT products.
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Side View of Spider Charger Showing USB Ports
To view an enhanced version of Side View of Spider Charger Showing USB Ports, please visit:
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Previously, Lomiko Technologies was the exclusive licensee of three devices designed by MegaHertz Power Systems, Ltd. based on an October 27, 2014 news release. Now, MegaHertz Power Systems, Ltd. has amalgamated a number of new concept designs, technology licenses, patent applications, and intellectual property into Smart Home Systems in order to penetrate the smart home market for Internet of Things (IOT) and seek out revenue streams. Lomiko will contribute the trademark and jointly developed Spider Charger and become a shareholder of Smart Home. In addition, Smart Home Ltd. plans to enter into negotiations to sell the Spider Charger and other related devices in North American markets with IOT distributors and builders.
Lomiko Technologies will no longer be the exclusive licensee in North America but will retain its North America license for the Spider Charger, the OEM 120VAC 60W LED Driver and the 90+ 60W LED Driver. Further, it will have the opportunity to license new products from Smart Home Devices Ltd. that are developed.
Lomiko Metals Inc. will receive 778,890 shares of SHD Smart Home Devices Ltd. (11.478%) for 16,129,743 shares of Lomiko Metals common stock. In view of the transaction, Lomiko has cancelled the Kickstarter Campaign started in December, 2015 and will re-launch with new rewards and perks.
The transaction is subject to the approval of the TSX Venture Exchange.
For more information, review the website at www.lomiko.com, contact A. Paul Gill at 604-729-5312 or email: info@lomiko.com
On Behalf of the Board
"A. Paul Gill"
Chief Executive Officer
We seek safe harbor. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: Lomiko Metals Inc.